Peter Thiel Pulls the Plug on ETHZilla

Well, folks, hold onto your hats because Peter Thiel, the tech titan and all-around crypto connoisseur, has ditched his entire stake in ETHZilla! Yes, you heard that right. No more ETHZilla for Peter and his crew over at Founders Fund. The once-coveted Ethereum treasury play is now as empty as a deflated balloon.

What Happened?

A document filed on February 17, 2026 (with the thrilling title 13G/A, don’t you just love finance jargon?), revealed that Thiel and his gang left ETHZilla with zero common shares. That’s right, zero! Can you imagine watching your investment go poof? Their final footprint on the Ethereum landscape? A big fat “nada.” Talk about a dramatic exit!

From Hero to Zero

Just a few months earlier, in September 2025, Thiel owned a significant chunk of ETHZilla—928,389 shares to be exact, which was about 5.6% of the company’s pie. But alas, things changed quicker than you can say “Ethereum!” A nifty reverse stock split also came into play, and the company’s share structure was flipped upside down like an old-school video game!

ETHZilla’s Rollercoaster Ride

Now, what’s the big deal about ETHZilla? Well, this company tried to pull off an ambitious stunt: translating the Bitcoin treasury model into an Ethereum-friendly version. Genius move? Not so much! As public markets started to wave their flags, ETHZilla was supposed to be the golden ticket for investors looking to dip their toes into the digital asset pool. Thiel’s entry helped make it seem somewhat legitimate, but just like that last slice of pizza at a party, it didn’t last long.

A Shift Towards Reality

In a twist worthy of a Netflix drama, ETHZilla has recently pivoted from its ETH-centric identity to dabble in “tokenized real-world assets.” Yep, they’re looking into aviation now—who knew ETH was into flying? They even launched “Eurus Aero Token I,” which promises to let you own a slice of aircraft engines through tradeable tokens. Sounds cool, but also like something out of a sci-fi movie!

The Burning Question

This wild ride leaves traders scratching their heads, wondering if Founders Fund knew something was fishy before the big pivot—or if they just decided to tidy up their investment portfolio after the ETH treasury dream went kaput.

The Observer’s Take

Now, one insightful Twitter user (@treebook78) has labeled Thiel as a “master at sensing crises,” claiming he dodged this market dip like Neo from The Matrix. Remember 2022? Thiel was busy showing off his diamond hands on SNS, urging everyone to hold onto Bitcoin forever. And then, poof! He sold everything before the storm came crashing down with the Luna fiasco. Talk about foresight!

Ethereum’s Current Vibes

As we wrap this up, let’s check in on Ethereum, which is currently trading at a cool $1,984. Keep your eyes on the prize, folks! You never know what wild ride the crypto market will take us on next.